Cash ISAs: The Best Currently Available List

Curlygirlie

Hi folks,

I'm new to the forums and I have a question about ISAs that's probably a bit daft...I was hoping someone might be able to clear it up for me. Hope this is the right place to ask!

I have some cash in an instant access ISA for the tax year 2008/2009 with a building society that shall remain nameless. However, I've decided I no longer want to save with them as not only has the rate dropped to a pathetic 0.25%, they've effectively managed to lose £200 of my money from the account (mystery transfer within the building society) and it's cost me quite a lot on phone calls just to get them to promise to investigate it! Not good service.

Anyway, I'd like to open up a new ISA for 2009/2010 and I was just wondering - is it possible to transfer what I've already saved from last year to a new account, or will that count towards my allowance for this new tax year?

MarkyMarkD

Hi Curly and welcome.

Most ISAs will allow you to transfer in previous years' money from other providers. Note that some don't - particularly the Barclays 3.61% best buy, for example - so choose carefully.

Even so, you could open one JUST to transfer last year's money, and still open another which doesn't allow transfers in for the 2009/10 money.

Make sure you ask your new provider to sort out the transfer - you can't withdraw the money and transfer it across yourself.

Paul_Herring

MarkyMarkD wrote: »

Disappointing to see the supposed experts at Moneyfacts repeating the nonsense line that "it must be remembered that it will not be until the end of the term that the full benefits of the rate will be realised". Er - no. You get the 5% on every penny in the account, for every day it's in the account. What more would anyone expect?

Judging both from previous threads from less than enlightened users, and various other stories: £180 on the £3,600 even if it's only been in there a day.

sheslookinhot

A&L ISA only pays 2.5%, not 3% as posted on page 1.

Baldur

sheslookinhot wrote: »

A&L ISA only pays 2.5%, not 3% as posted on page 1.

The 1st post was last edited on 29th March - A&L dropped the rate on 1st April - https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=184133

Rose_Crow

First Direct Cash e-ISA - 3.10% :starmod:NEW :starmod:
Rate guarantee? No. Rate effective from: 02/03/2009.
Minimum deposit: £1. Operated via: Internet.
Notes: Gross Rate guaranteed to be fixed at 3.06% Until 30/04/2010 and then reverts to 0.50% AER variable thereafter.
Important: Transfers in from outside of First Direct only.

Can someone quickly explain what they mean by 'gross rate guarenteed to be fixed'. Does that means it's going to be fixed at 3.10% until 30/4/10? Sounds too good to be true as it's an instant access ISA.

masonic

grn.w.nv wrote: »

Can someone quickly explain what they mean by 'gross rate guarenteed to be fixed'. Does that means it's going to be fixed at 3.10% until 30/4/10? Sounds too good to be true as it's an instant access ISA.

Yes. It's effectively paying 0.5% fixed with a 2.6% introductory bonus that lasts until next April. Good, but not exactly too good to be true.

owitemisermusa

masonic wrote: »

Yes. It's effectively paying 0.5% fixed with a 2.6% introductory bonus that lasts until next April. Good, but not exactly too good to be true.

Thanks Masonic, I wondered what they meant. Anyway, 3.10% fixed + no penalty withdrawals is still good enough for me!

Danke!

fullstop

Another 1 year fixed rate ISA paying over 3% is The Leeds BS whose rate is 3.05%, no transfers in allowed.
http://www.leedsbuildingsociety.co.uk/savings/1year_fixed_isa.html

malross

This might not be the best place to ask, but does anyone have information on the best ethical mini cash ISAs? I doubt they'll be the best overall and therefore probably not included in post #1, but any info on ethical stuff would be appreciated.

Thanks,

Mal.